Difference between revisions of "Allocative efficiency"
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(New page: Allocative efficiency is another term for Pareto optimal: it is the economic situation when no person can make a trade or reallocation of resources that makes him better off without m...) |
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| − | Allocative efficiency is another term for [[Pareto optimal]]: it is the economic situation when no person can make a trade or reallocation of resources that makes him better off without making others worse off. | + | '''Allocative efficiency''' is another term for [[Pareto optimal]]: it is the economic situation when no person can make a trade or reallocation of resources that makes him better off without making others worse off. |
In other words, this is an optimal allocation of resources or goods. | In other words, this is an optimal allocation of resources or goods. | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Latest revision as of 18:12, January 18, 2008
Allocative efficiency is another term for Pareto optimal: it is the economic situation when no person can make a trade or reallocation of resources that makes him better off without making others worse off.
In other words, this is an optimal allocation of resources or goods.